Crypto-based fantasy gaming platform Kandle.xyz, direct-to-consumer startup Minifeel and electric vehicle firm Evindia have secured early-stage funding, the companies said on Tuesday.
Kandle
Sinagpore-based Kandle.xyz has raised $1.7 million (Rs 13.9 crore) in a seed funding round led by Saama Capital.
The round also saw participation from PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund and Sumit Gupta (CoinDCX).
The funding will be used to develop the platform further and expand its user base. The company also plans to expand its presence across Asia and North America.
Founded by Jaideep Yadav, Kandle, is a crypto-based fantasy gaming platform. It offers different fantasy leagues and skill-based prediction contests using crypto coins. Currently, it has established its presence in Indonesia, Vietnam, Nigeria, and India.
It claims to have seen 80,000 players on its platform during its soft launch.
“By combining gamification and web3 with a product trial, Kandle plans to integrate smart contracts to ensure that games are transparent, secure, and fair,” said Yadav.
Minifeel
Skincare-focused D2C brand Minifeel has raised $366,858 (Rs 3 crore) in a pre-seed funding round led by 100X.VC.
The round also saw participation from a host of angel investors including Vijay Jain (ORRA Jewellery), Ajay Mokariya and Ganesh Iyer (Shree Maruti), Yash Kotak (Jumper.ai), Niraj Chhajer (Pransh Capital) and Bhanushali Angel Investor Network.
The Mumbai-based startup will deploy the fresh proceeds to develop its technology stack as well as increase its number of trial product offerings for customers by partnering with premium beauty brands.
Founded by Sagar Mithiya, Minifeel offers premium skincare and cosmetic products like serums, cleansers, makeup in trial packs, allowing customers to try out any product at affordable costs. The company also serves as a marketing channel for brands to help create awareness among consumers.
This is the fourth investment by 100X.VC in July. Earlier this month, the early-stage operator invested in artificial intelligence startup Vodex, salons, spas and aesthetic clinics marketplace Luzo and fintech startup 50Fin.
Evindia
Evindia, an influencer-driven social commerce platform for EV two-wheeler buyers, has secured an undisclosed amount in a pre-seed funding round from startup accelerator EvolveX Accelerator, along with angel investors Neeraj Tyagi, Gaurav VK Singhvi, and Vikas Aggarwal (WeFounderCircle).
The raised funds will be allocated for product development, business expansion and building a creator economy.
Founded by Tarpan Vyas, Evindia is a social commerce platform for EV buyers that aims to address the gap of lack of relevant information and help prospective buyers to choose the right product fit for them.
The Ahmedabad-based startup also plans to raise bridge funding to the tune of Rs 1.25 crore in the coming months.